Figure 5-17
-In Figure 5-17, which of the marked points would an economist use to help him construct a single demand curve for X?

Question

Figure 5-17 
-In Figure 5-17, which of the marked points would an economist use to help him construct a single demand curve for X?

Quizplus · Accepted Answer

An economist would use points A and D to construct a single demand curve for X because they show the highest and lowest prices respectively at which consumers are willing to purchase a particular quantity of X. By connecting these two points, the economist can construct a straight line demand curve. Points B and C are not necessarily representative of the extremes of consumer willingness to pay and therefore are not optimal for constructing the demand curve.

Figure 5-17 -In Figure 5-17, Which of the Marked Points Would an Points